New Brunswick Entrepreneurial Stream

New Brunswick is situated right beside the ocean. It is part of the Atlantic region.

So, it has become one of the most promising parts of Canada when it comes to trade and commerce. It is one of the top choices for foreign business persons trying to obtain PR in Canada. That is why the Canadian government came up with this one-of-a-kind visa plan.

Specialties:

This is quite a unique type of program compared to many other visa policies that also promise lifelong residence in Canada by the means of financial investment or business. Here are the things that make it different from others:

• • Less processing time compared to other visa processing time.
• • Business can be founded both solitarily and collaboratively.
• • The work permit period is skipped in this visa plan which quite unlikely in other types of business visas.
• • As the work permit step is skipped, the pre-requirements needed by this step are not necessary anymore which simplifies the visa process.

Factors of Acceptancy:

Anyone wanting to settle in Canada through this visa is needed to be accepted in three sections. The factors of acceptance in each section are shortly described below.

PR application submission:

The candidate can obtain the right to submit an application for lifetime residency only if the qualifications below are achieved.

• • The PR seeker has to obtain no less than 65 from a 100 point scoring system.
• • After coming to New Brunswick the candidate has to start running the business and provide finance of 250 thousand of Canadian currency at minimum.
• • The financing has to take place within a couple of years after coming to New Brunswick.

 Founding a business:

There are certain things that need to be fulfilled to gain the right to start a business.

• • The applicant has to be an owner.
• • He or she needs to gain or possess a certain amount of shares. ( no less than 33.33% of total share)
• • He or she has to stay regularly in action with the managerial works of the business.
• • The investment should be of 250000 Canadian currency at minimum.
• • The business has to make some day-long job opportunities. ( 2 at minimum)
• • The candidate has to show their link with New Brunswick. This can be done either by exploration, work, education, etc, or by having blood relations with a permanent resident.

Becoming a business migrant:

Personal and professional qualifications are the main factors in this segment. The details are below.

• • The person interested in migration has to be experienced. ( experience of 3 years in recent half a decade)
• • The age limit is from 22 years old to 55 years old.
• • He or she needs to be an expert in English or French as these two languages are the official languages of New Brunswick. To prove their language competency, they must obtain a result of   CBL 5 or NCLC 5 from the language exams held by the approved institutes.
• • The education status of the migrant has to be at least 2 years of tertiary education. They also need to have approval from ECA to verify their schooling abroad.
• • Their personal total wealth needs to be equivalent to 6000000 Canadian dollars at a minimum.